AUS
NZ
UK
CA
USA
IND
_10_04_2024_16_38_50_427275.jpg)
.jpg)
Highlights
- Robust first-quarter production of over 50,000 ounces.
- Strong operational performance with enhanced underground mining output.
- On target to meet annual production goals with effective cost management.
West African Resources Limited (ASX:WAF) has reported a strong start to 2025, with its first-quarter performance reflecting solid production and sales figures. The company produced a remarkable 50,033 ounces of gold during this period and sold 48,338 ounces at an average price of US$2,832 per ounce.
In the realm of mining operations, the company saw varied results from its different mining fronts. Open pit mining activities contributed significantly, yielding 40,788 ounces of gold from 1,545kt of ore, achieving an average gold grade of 0.8 grams per tonne. Notably, the underground mining sector showed a substantial 7% increase in productivity, delivering 33,670 ounces from just 149kt of ore at a much higher grade of 7.0 grams per tonne. Additionally, the strategic management of ore stockpiles, which grew by 34%, added another 20,600 ounces to the production potential.
The operational efficiency at the Sanbrado process plant was commendable. The plant processed 857kt of ore at a head grade of 2.0 grams per tonne. The high recovery rate of 92.9% ensured that the production target was met with a total output of 50,033 ounces of gold. This level of performance underscores the company's robust processing capabilities and its strategic operational management.
Looking ahead, (WAF) remains committed to achieving its ambitious annual production target for 2025, which is set between 190,000 and 210,000 ounces of gold. This target is expected to be met with site sustaining costs maintained below US$1,350 per ounce, reflecting the company's focus on cost-efficiency and profitability.
Richard Hyde, Executive Chairman and CEO, expressed optimism about the company’s trajectory. He highlighted the productive first quarter, emphasizing that the company is well-positioned to meet its stated annual production goals. He noted, "Sanbrado has had a solid start to 2025 with gold production of 50,033 ounces in Q1. We remain on track to achieve our annual production guidance of 190,000 to 210,000 ounces in 2025. We look forward to providing our full quarterly activities report in the coming weeks.”
West African Resources (WAF) continues to exemplify a strong and resilient business model, characterized by efficient operations and strategic market positioning, promising a lucrative year ahead for its stakeholders.
